Small business loan schemes for women entrepreneurs – all details

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Small business loan schemes for women entrepreneurs: With more than 50% of the entrepreneurs who attended the recent Global entrepreneurship summit 2017 being women, it is clearly evident that women entrepreneurs can be seen every sphere of business world. There were few countries that were represented by only women at the GES that took place in Hyderabad this year. There are many women who run their families alongside carrying a small and mid-sized business to make their livelihood. To help and give encouragement to more women to take up such self-run businesses, many banks in India have some separate small business loan schemes for women. Few popular schemes of this sort are discussed below:

Small business loan schemes for women entrepreneurs

Small business loan schemes for women entrepreneurs

1. Annapurna scheme:

Sl.no Feature Details
1 Offering bank This is scheme is offered by state bank of Mysore (Now SBI)
2 Purpose of the loan As the name suggests, this loan is offered to the women who want to set up a food catering business such as selling packed foods, snacks and daily meals etc
3 Loan amount The maximum amount provided under this loan is ₹ 50,000.
4 Installments The loan can be repaid in 36 installments
5 1st month – No EMI After the loan amount is disbursed, EMI is not required to be paid for the 1st month
6 Interest rate It will be decided by the bank as per prevailing market rate
7 Collateral security Assets of the business would acts as collateral security for the loan in addition to a mandatory guarantor

2. Stree Shakti Package:

Sl.no Feature Details
1 Offering bank State bank of India
2 Purpose of the loan This is meant for empowering the women by offering 3 concessions. An enterprise should have more than 50% of its ownership by women to qualify for the scheme
3 Concessions
  • The margin will be lowered by 5% as applicable to separate categories.
  • For tiny sector units, No security is required for loans up to ₹ 5 lakh
  • If the loan exceeds ₹ 2 lakhs, interest rate will be lowered by 0.5%

3. Business loan by BMB:

Sl.no Feature Details
1 Offered by Bharatiya Mahila Bank ( Now merged into SBI)
2 Purpose The loan is sanctioned to the women entrepreneurs to start  their new businesses in the areas such as retail, manufacturing etc.
3 Maximum loan An amount up to ₹ 20 crores is sanctioned for manufacturing ventures
4 Concession in interest Concession is available to the extent of 0.25% on the interest rate
5 Collateral free? If you apply under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), there is no requirement of collateral security for a loan of up to ₹ 1 crore

4. Shakti:

Sl.no Feature Details
1 Offered by Dena Bank
2 Purpose Loans under this scheme are sanctioned to women entrepreneurs engaging in manufacturing, agriculture and retails etc.
3 Maximum Loan amount Loans of micro credit nature sanction up to ₹ 50,000 while an amount of up to ₹ 20 lakhs is disbursed for retail trade
4 Concession in interest Concession is available to the extent of 0.25% on the interest rate

5. Cent Kalyani:

Sl.no Feature Details
1 Offered by Central Bank of India
2 Purpose Loans under this scheme are sanctioned to women for starting a new business or expanding or modifying an existing venture. Women engaged in village and cottage industries, micro, small and medium enterprises, agriculture and allied activities, retail trade, and any government sponsored schemes are eligible for this scheme.
3 Maximum loan amount Eligible women can avail up to ₹ 1 crore.
4 Collateral No collateral security is required. Also, the loan processing fee is nil

6. Udyogini:

Sl.no Feature Details
1 Offered by Punjab and  Sind  Bank
2 Purpose To provide financial assistance to women entrepreneurs engaged in agriculture, retail and small business enterprises
3 Age criteria Applicant should be of the age group 18 – 45 years
4 Income criteria Family income should be ₹ 45000

7. Mahila Udyam Nidhi:1

Sl.no Feature Details
1 Offered by Punjab National Bank
2 Purpose To cater the financial needs of women entrepreneurs in small scale sector
3 Maximum loan Eligible applicant can get up to ₹ 10 lakhs
4 Term The loan is repayable in 10 years
5 Special loans Special loans are available for running beauty parlors, purchase of auto rickshaws, two-wheelers, cars, day care centers.

8. Oriented Mahila Vikas Yojana:

Sl.no Feature Details
1 Offered by Oriental bank of commerce
2 Eligibility Business concerns having at least 51% of their ownership by women.
3 Collateral Ø  No collateral security for loans up to ₹ 10 lakhs

Ø  No collateral security for loans sanctioned to small scale industries up to an extent of ₹ 25 lakhs

4 Term Maximum up to 7 years
5 Interest rates https://www.obcindia.co.in/obcnew/upload/ROI_25_09_14.pdf

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